Vehicle imports drive growth in economy

Growing volumes of vehicle imports through the port of Walvis Bay are injecting millions into the local economy, according to the Walvis Bay Corridor Group (WBCG). Vehicle imports through Walvis Bay more than doubled to over 20 000 vehicles in 2012, Johny Smith, chief executive officer of the WBCG, said. It is estimated that the benefit of importing these vehicles via the Port of Walvis Bay has resulted in an economic benefit of more than N$150 million (R150 million) into the Namibian economy. This represents more than 100% increase in revenue compared to the previous year, said Smith. Both right- and left-hand drive used vehicles are imported into Angola, Botswana, the Democratic Republic of Congo, Malawi, Mozambique, Namibia, Zambia and Zimbabwe through the Walvis Bay Corridors. According to the WBCG, “just more than three years ago most of these vehicles were transported via other transport corridors in the Southern African Development Community (SADC) region. “Now customers in the region have found a shorter and safer alternative to transport their vehicles to the local market.” Beneficiaries of the growing volumes include the port, shipping and logistics fraternity, accommodation and food establishments, the municipality of Walvis Bay, service stations and other miscellaneous service providers, according to the WBCG. Vehicles are sourced from the likes of Europe, the UK, the US and Asia. “The growth in the import of vehicles to the neighbouring countries has built confidence amongst importers to utilise the port of Walvis Bay for the import and export of other commodities,” says Smith. CAPTION Imported used trucks in the port of Walvis Bay ... big economic benefit to the Namibian economy.